Health profits halve as private health funds turn red

Data from the Australian Prudential Regulatory Authority (APRA) shows that the nation’s 37 private health insurers booked a combined profit of $723 million in 2019-20. The figures also show that 11 health funds made a loss for the financial year, compared with just five in 2018-19. Medibank and Bupa retained their rankings as Australia’s leading health funds, with market shares of 26.9% and 25.4% respectively.

From The Australian:

The poor performance of smaller insurers and continued dominance of bigger funds adds to warnings of the sector facing significant consolidation in coming years.

There are 1177 words left in this subscriber-only article.

Start your free 14-day trial today!

Comments are hidden for Membership Subscribers only.